- Ripple and XRPL Labs have joined the Decentralized Recovery (DeRec Alliance), joining the likes of developer of Blockchain network Hedera, Swirlds Labs, and the Algorand Foundation.
- Arbitrum (ARB Coin) has reached a significant milestone in its network, with daily transactions hitting two million as of May 8th.
- Binance Labs incubation project UXUY has completed a $7 million funding round.
Discover the latest developments in the crypto world, including Ripple’s new alliance, Arbitrum’s milestone, and Binance Labs’ successful funding round.
Ripple and XRPL Labs Join DeRec Alliance
Ripple and XRPL Labs have become members of the Decentralized Recovery (DeRec Alliance), joining other members such as Acoer, BankSocial, Blade Labs, The Building Blocks, Casper Association, Constellation Network, The Hashgraph Association, The HBAR Foundation, and Revive Labs. The DeRec Alliance was founded by Hedera co-founder Leemon Baird, with the aim of providing an open-source process to accelerate the recovery of digital assets.
Arbitrum (ARB Coin) Hits 2 Million Daily Transactions
Arbitrum (ARB Coin), an Ethereum layer-2 scaling solution, has reached a significant milestone in its network. According to data from analytic platform IntoTheBlock, Arbitrum’s daily transactions reached two million as of May 8th. This represents a consistent average of one million transactions per day since March, showcasing the network’s user-friendly nature.
Binance Labs Incubation Project UXUY Completes $7 Million Funding Round
UXUY, a next-generation decentralized multi-chain trading platform incubated by Binance Labs, has announced the completion of a $7 million Pre-A funding round in Hong Kong. Since its inception, the total funding amount has exceeded $10 million. UXUY is a significant founder in the Bitcoin ecosystem, with over 100,000 traders using Bitcoin Lightning Network services through UXUY.
Conclusion
This week in crypto news, Ripple and XRPL Labs have joined the Decentralized Recovery (DeRec Alliance), Arbitrum (ARB Coin) has reached a significant milestone in its network, and Binance Labs incubation project UXUY has completed a $7 million funding round. These developments highlight the continuous growth and innovation in the crypto industry.
